Heat olive oil and 2 tablespoons of butter in a large skillet or pot over medium heat.
Add the shrimp to the skillet and season with salt and black pepper. Cook for 2 minutes on each side until pink and opaque. Remove shrimp from the skillet and set aside.
In the same skillet, add the remaining 2 tablespoons of butter and minced garlic. Sauté for about 1 minute until fragrant, stirring constantly to avoid burning.
Add the orzo pasta to the skillet and stir to coat it with the garlic butter.
Pour in the chicken broth and add crushed red pepper flakes. Stir to combine and bring the mixture to a boil.
Reduce heat to medium-low, cover the skillet, and simmer for 10-12 minutes, or until the orzo is tender and most of the liquid is absorbed. Stir occasionally to prevent sticking.
Return the cooked shrimp to the skillet and stir in the grated Parmesan cheese and fresh lemon juice. Cook for an additional 2 minutes to heat through.
Remove from heat and sprinkle with chopped fresh parsley before serving.